Sycale Advisors NY LLC Acquires Shares of 1,400,342 Genius Sports Limited (NYSE:GENI)

Sycale Advisors NY LLC bought a new stake in Genius Sports Limited (NYSE:GENI - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,400,342 shares of the company's stock, valued at approximately $12,113,000. Genius Sports comprises 3.1% of Sycale Advisors NY LLC's investment portfolio, making the stock its 12th biggest position. Sycale Advisors NY LLC owned about 0.65% of Genius Sports as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in GENI. Raymond James Financial Inc. purchased a new position in Genius Sports during the fourth quarter worth about $12,332,000. JPMorgan Chase & Co. boosted its position in shares of Genius Sports by 138.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,649,007 shares of the company's stock worth $14,264,000 after purchasing an additional 957,559 shares during the period. Perigon Wealth Management LLC purchased a new position in shares of Genius Sports during the 4th quarter worth approximately $136,000. D.A. Davidson & CO. increased its holdings in Genius Sports by 2.7% in the 4th quarter. D.A. Davidson & CO. now owns 53,608 shares of the company's stock valued at $464,000 after purchasing an additional 1,396 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Genius Sports in the fourth quarter valued at approximately $11,292,000. Hedge funds and other institutional investors own 81.91% of the company's stock.

Genius Sports Stock Up 4.9%

GENI traded up $0.49 on Friday, reaching $10.37. The company's stock had a trading volume of 1,841,375 shares, compared to its average volume of 2,921,438. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of -32.38 and a beta of 1.96. Genius Sports Limited has a fifty-two week low of $5.03 and a fifty-two week high of $11.40. The stock has a 50 day moving average of $10.12 and a two-hundred day moving average of $9.42.

Genius Sports (NYSE:GENI - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.02. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. The business had revenue of $143.99 million during the quarter, compared to analysts' expectations of $143.31 million. During the same quarter in the prior year, the business posted ($0.11) EPS. The company's revenue for the quarter was up 20.3% on a year-over-year basis. As a group, analysts anticipate that Genius Sports Limited will post -0.1 earnings per share for the current fiscal year.

Genius Sports declared that its board has approved a stock repurchase program on Tuesday, May 6th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to buy up to 4.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

GENI has been the subject of several recent research reports. Guggenheim began coverage on shares of Genius Sports in a research note on Tuesday, March 18th. They issued a "buy" rating and a $12.00 price objective for the company. BTIG Research raised their price target on shares of Genius Sports from $11.00 to $12.00 and gave the company a "buy" rating in a research report on Tuesday, April 22nd. Lake Street Capital upped their price objective on Genius Sports from $10.50 to $11.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Craig Hallum set a $15.00 price objective on Genius Sports in a research note on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Genius Sports in a research note on Monday, April 21st. They set a "buy" rating and a $12.00 target price for the company. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $12.19.

Genius Sports Profile

Genius Sports Limited engages in the development and sale of technology-led products and services to the sports, sports betting, and sports media industries. It offers technology infrastructure for the collection, integration, and distribution of live data of sports leagues; streaming solutions comprising technology, automatic production, and distribution for sports to commercialize video footage of their games; and end-to-end integrity services to sports leagues, such as full-time active monitoring technology, which uses mathematical algorithms to identify and flag suspicious betting activity in global betting markets, as well as a full suite of online and offline educational and consultancy services.